Carbon Pulse

Prime Minister Justin Trudeau committed C$350 million ($256.4 mln) in funding for biodiversity conservation efforts in developing nations as he officially opened COP15 in Montreal Tuesday, though green groups say the amount falls well short of what Canada should contribute.

Low-cost airline JetBlue on Tuesday announced it will next year end its strategy to automatically offset emissions from all domestic flights, and instead invest that capital in destination-specific nature-based carbon credits and reducing GHGs from its own operations.

New Zealand on Wednesday sold all the allowances on offer at the final ETS auction of the year, with the sale clearing below NZ$80 ($50.57) amid a slight dip in demand.

California lawmakers on Monday put forth related bills to ramp up the state’s 2030 emissions reduction target, coming after the proposal failed in the most recent legislative session and state regulator ARB’s Scoping Plan aims for deeper climate mitigation.

Traders largely believe the December RGGI auction will clear in line with secondary market pricing, as steady compliance demand runs up against regulatory uncertainty in Virginia and Pennsylvania, and a low capacity for returns scares off speculative participation.

A blockchain technology company signed an agreement with a North American commodity exchange to develop a carbon pricing platform, the companies announced Monday.

Industry representatives are piling pressure on European institutions to introduce WTO-compliant ‘export adjustments’ to the proposed carbon border adjustment mechanism (CBAM) as talks over the mechanism near closure.

EU co-legislators are meeting late on Tuesday to try to reach agreement on how aviation should be treated in the bloc's carbon market, though one well-placed source expected the talks to need more time.

The Argentinian province of Cordoba last week held a blockchain-based pilot voluntary carbon credit auction for GHG mitigation activities not registered with international standards.

Several companies traded Xpansiv CBL’s new standardised contract for cookstove offsets on its launch day on Monday, with units representing some 210,000 tonnes of CO2e changing hands.

An Indian developer and consultancy, which has previously seen a large forestry scheme rejected, is behind three huge new REDD projects attempting to bring fresh annual supply of more than 38 million carbon credits into the voluntary carbon market (VCM).

The UN’s biodiversity negotiations opened in Montreal on Tuesday, with high-level statements noting the significant challenges that lie ahead in forging a new global framework to halt and reverse the alarming rate of nature loss, as global negotiators brace for intense negotiations over a currently heavily bracketed text.

EUAs rebounded 0.8% on Tuesday morning as speculative positioning kept support for Dec-22s amid the imminent options expiry, as colder weather prospects added strength.

Shanghai has announced a work plan for the establishment of its regional carbon offsetting programme, which will be linked to the city's emissions trading scheme by 2025, though questions remain as to what offset types will be allowed to use for compliance under the local ETS.

The NSW state government will allocate A$10 million ($6.7 mln) in the first round of a grants scheme to assist groups in the agricultural and land sectors with carbon abatement projects, it announced on Tuesday.

New analysis has highlighted potential future changes that could be made to Australia’s Safeguard Mechanism after changes in the policy’s framework in the government’s below-baseline crediting legislation.

The EU has reached a provisional political agreement on a bill to prevent the import of goods linked to deforestation, after late-night trilogue talks on Monday between negotiators from the Parliament, Commission, and Council of member states.

Fewer than 5% of global companies have assessed the impact they have on nature and fewer than 1% understand how their businesses depend on natural ecosystem services, according to a survey published this week.

The International Emissions Trading Association (IETA) has released a set of principles to govern the trading of CO2 reductions and removals that use technology-based carbon sink enhancements, the group announced on Tuesday.

A daily summary of our news plus bite-sized updates from around the world.